Marshall Wace North America L.P. raised its holdings in shares of Sealed Air Corp (NYSE:SEE) by 6.1% in the third quarter, HoldingsChannel reports. The firm owned 5,660,228 shares of the industrial products company’s stock after buying an additional 326,156 shares during the period. Sealed Air comprises 1.6% of Marshall Wace North America L.P.’s holdings, making the stock its 12th largest position. Marshall Wace North America L.P.’s holdings in Sealed Air were worth $227,258,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Sealed Air by 11.8% during the second quarter. Janney Montgomery Scott LLC now owns 20,086 shares of the industrial products company’s stock worth $853,000 after purchasing an additional 2,118 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Sealed Air by 2.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 574,976 shares of the industrial products company’s stock worth $24,408,000 after purchasing an additional 13,133 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Sealed Air by 35.6% in the second quarter. Victory Capital Management Inc. now owns 1,427,017 shares of the industrial products company’s stock worth $60,577,000 after purchasing an additional 374,733 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Sealed Air in the second quarter worth approximately $537,000. Finally, Barings LLC bought a new position in shares of Sealed Air in the second quarter worth approximately $766,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

Several brokerages have recently issued reports on SEE. UBS Group set a $45.00 target price on shares of Sealed Air and gave the stock a “buy” rating in a report on Friday, November 2nd. Barclays cut their target price on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 9th. ValuEngine cut shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Bank of America cut shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Thursday, October 18th. Finally, Zacks Investment Research cut shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Sealed Air has a consensus rating of “Hold” and an average target price of $45.00.

NYSE:SEE traded up $0.07 during trading hours on Thursday, hitting $34.88. The company had a trading volume of 3,020,800 shares, compared to its average volume of 2,069,018. The stock has a market cap of $5.46 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. Sealed Air Corp has a 52 week low of $30.22 and a 52 week high of $49.94.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. Analysts predict that Sealed Air Corp will post 2.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, December 6th. Sealed Air’s dividend payout ratio (DPR) is currently 35.36%.

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About Sealed Air

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.

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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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